J. America Wholesale Blanks Recapitalizes
J. America Wholesale Blanks, Folwerville, Mich., has partnered with Cleveland-based Blue Point Capital Partners to recapitalize. According to Crain's Cleveland Business, Blue Point Capital Partners took a majority stake in the company and plans to grow the company's operations. Terms of the deal were not disclosed.
"With a broad product range and multiple distribution changes, J. America is one of the most complete companies in an attractive, stable industry," Chip Chaikin, a partner at Blue Point Capital Partners told Yahoo Finance. "They have a strong, profitable business and have doubled in size in the past five years. Blue Point's toolkit of operational and industry resources can help J. America realize its growth objectives, and we look forward to a successful and rewarding partnership with its talented management team."
J. America Wholesale Blanks currently has an agreement to be the exclusive non-sideline apparel supplier for Ohio State University. Chaikin told Crain's Cleveland Business that Blue Point Capital Partners plans to double J. America Wholesale Blanks' size.
"With the company's exposure to multiple markets, including college bookstores, specialty retailers, department stores, mass channels and wholesalers, they have great market-facing designs," he told Crain's Cleveland Business. "This gives us lots of avenues for growth—new licenses, acquisitions and product extensions are all part of the plan."
Jeff Fenech, co-founder of J. America Wholesale Blanks, told Yahoo Finance that Blue Point Capital Partners is a good fit for the company's recapitalization.
"Blue Point's strategic focus, e-commerce expertise and access to significant resources will enhance our ability to provide functional, affordable apparel and headwear to our customers," he told Yahoo Finance. "We have great opportunities ahead of us to grow our business and are very excited about working with the Blue Point team to take advantage of them."